AIA's value of new business, which measures expected profits from new premiums and is a key gauge for future growth, rose to $1.17 billion for the three months ended March 31, up from $1.02 billion a year earlier. The insurer, originally founded in Shanghai nearly 100 years ago and the first foreign insurer to be granted a licence in China, has been expanding its presence in China amid Beijing's broader agenda to open up its financial sector to greater foreign participation. The company said in a statement to the stock exchange that the value of new business in Hong Kong, its key market, generated "double-digit" growth, but did not give a number.

May 10 (Reuters) - AIA Group Ltd: * REPORTS 11 PER CENT INCREASE IN ANNUALISED NEW PREMIUMS (ANP) TO US$1,827 MILLION IN Q1 * Q1 VALUE OF NEW BUSINESS (VONB) $1,169 MILLION VERSUS $1,021 MILLION * VONB ...

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Foreign insurers including Generali and Prudential Plc are in early talks with authorities to enter China's private pensions sector, people with knowledge of the matter said, as Beijing opens up to overseas companies. Hong Kong-based AIA Group and Manulife Financial are also considering similar moves, they said. Beijing gave approval to the first foreign joint-venture firm to establish a pensions insurance business last month and two of the people said China has been running pilot projects in three provinces involving foreign firms.

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AIA Group Ltd, the world's second-largest life insurer by market value, posted a 22 percent increase in its 2018 new business value, boosted by expansion in China and surging demand for insurance in Hong Kong, its home market. AIA's value of new business, which measures expected profits from new premiums and is a key gauge for future growth, rose to $3.96 billion in 2018, up from $3.21 billion in 2017, the company said in a statement on Friday. Analysts had expected Hong Kong-based AIA to post a 19 percent jump in value of new business to $3.83 billion, according to Refinitiv data.

HONG KONG, March 1, 2019 /PRNewswire/ -- AIA Group ("AIA" or the "Company": stock code: 1299) kicks its 2019 Centennial Year celebrations into high gear during Tottenham Hotspur's Premier League fixture against local rivals Arsenal on Saturday March 2nd. AIA is Tottenham Hotspur's Global Principal Partner, and the highly-anticipated north London derby will see a series of AIA specific activity with a special high-profile promotional presence throughout the game. The Premier League fixture at Wembley Stadium will see Centennial messaging on pitch-side advertising, as well as a congratulatory message on the pre-match centre-circle banner, along with special "AIA100" shirts, which the Tottenham Hotspur squad will wear during the pre-game warm-up session.

China's Union Life Insurance is planning to sell a controlling stake that could be snapped up by locals or foreigners looking to tap into the country's growing demand for insurance products, three people familiar with the matter told Reuters. A majority sale to an offshore company would mark a rare purchase of a financial services firm in China by a foreigner, indicating Beijing's push to ease ownership rules and attract investors to the world's No.3 insurance market were paying off. Union Life, expected to be valued at $1.5 billion to $2 billion, plans to sell as much as 51 percent, with an option to raise that to 100 percent later, the people said, declining to be named as the details are not public yet.

Hong Kong has awarded Bowtie Life Insurance, a company backed by Sun Life Financial's Hong Kong unit, the first online-only insurance licence under the city's "fast-track" scheme. Bowtie Life Insurance, which is also supported by Sequoia Capital managing partner Neil Shen's Hong Kong X Technology Fund, will offer life insurance directly to consumers rather than selling through intermediaries such as agents or banks, as is common in Hong Kong. Hong Kong is home to a developed life insurance market, with a life and health insurance premium to GDP ratio of 17.94 percent in 2017, the second-highest in Asia after Taiwan, according to insurer Swiss Re.

Hong Kong is set to license its first online-only insurer under a "fast-track" system next month, the regulatory head said, as it fights off criticism for being slower to make use of new technology than other parts of the financial services world. The online platform will operate in a market worth more than $63 billion in insurance premiums, and will compete with players such as AIA Group and the local units of Prudential Plc and Sun Life Financial Inc. The move comes as Hong Kong is pushing a number of financial technology or "fintech" initiatives in an effort to compete better with rival centres in Singapore and London to reel in more investment.

HONG KONG/BEIJING, Nov 19 (Reuters) - China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said. Britain's Prudential Plc and Canada's Sun Life Financial Inc are among insurers who expressed interest in recent months in owning more of their China operations. China has set an agenda to open up its financial sector and has already taken steps this year to relax foreign ownerships in securities ventures.

Nov 9 (Reuters) - AIA Group Ltd: * 12 PER CENT INCREASE IN ANNUALISED NEW PREMIUMS (ANP) TO US$1,582 MILLION FOR QUARTER * 17 PER CENT GROWTH IN VONB TO US$979 MILLION FOR QUARTER * VONB MARGIN UP 2.6 ...

AIA Group Ltd, the world's second-largest life insurer by market value, posted a 17 percent rise in new business value in its fiscal third quarter, as it boosted sales in its main markets of China and Hong Kong. China and Hong Kong together account for about half of new business growth globally at AIA, originally founded in Shanghai nearly 100 years ago and the first foreign insurer to be granted a licence in China. AIA's value of new business, which measures expected profits from new premiums and is a key gauge for future growth, rose to $979 million in the quarter, up from $846 million a year ago, the company said in a statement to the Hong Kong stock exchange.

At least five insurers, including Britain's Prudential and Canada's Sun Life , have bid for Commonwealth Bank of Australia's (CBA) majority stake in an Indonesian insurance venture, people with knowledge of the process said. The stake sale, which could value the venture at between $250 million and $300 million, has also received second-round bids from insurer FWD Group, Singapore-listed Great Eastern Holdings, and Indonesia's Sequis Life, three people said.